In Russia, AI Will Speed Up Mortgages: DOM.RF Launches a New Digital Property Valuation System
A machine‑learning system will independently analyze property characteristics and calculate market value using a comparative approach
Russia is beginning a large‑scale transition to faster, more convenient, fully digital mortgages. DOM.RF Bank, together with Sber and the Fintech Association, announced joint work on developing artificial‑intelligence technologies for automated property valuation. The project is based on a service that has already successfully passed testing in the Bank of Russia’s regulatory sandbox and is now ready for nationwide rollout.
Digital Valuation
The main goal of the project is to eliminate one of the most time‑consuming steps in obtaining or issuing a mortgage. Today, clients still have to order an appraiser’s report, wait for its preparation, and upload documents to the service. The new system removes these steps: a machine‑learning engine will independently analyze the property’s characteristics and calculate its market value using a comparative method.
The Bottleneck Removed
Nikolay Kozak, Managing Director and Board Member of DOM.RF, notes that mortgages have already become one of the most advanced digital banking products — but valuation remains the key bottleneck. Without it, the bank cannot quickly prepare the mortgage bond or finalize the transaction online. The new technology will significantly speed up the process and improve valuation accuracy, directly influencing the terms of the deal.
Using algorithms allows banks to reduce risks associated with human error, while borrowers save time and money. Automated valuation also makes it possible to create mortgage‑backed securities without involving independent appraisers.
Soon, mortgage processing in Russia will become fully digital — fast, convenient, and accessible nationwide. Now all that remains is to make interest rates just as accessible…
